InsureIT´s Group Insurance Administration System - Cybersure

Cybersure facilitates the calculation and storage of group insurance benefits and premiums at both a scheme and a member level. Cybersure ’s architecture caters for multiple products to be administered in a single database. Additionally, products can be configured to incorporate multiple benefits under one contract so to enable the sharing of membership data. 

How Does Cybersure work? 
Cybersure enables the user to quickly design and implement new products. It has initially been designed to cater for Consumer insurances as Household, Homeowners, Motor, and also Warranty. Combinations of other products can also be incorporated 

Product and Plan 
The Product and all it’s characteristics, including policy-numbering sequences, determine the overall insurance benefits available to each Plan. A Plan can select such benefits and maintain any combination of these assigned to the product. Additionally, more than one policy number can be assigned to a Plan. This provides for the facility of data sharing without duplicating Member records. Accounting could be held at a Plan level to ensure minimum Accounting entries. The Ledger simply stores all details relating to any Plan or Member level accounting entries to enable financial reporting from one source. 

The Category allows for the establishment of different formulae and group members under such formulae. This vastly improves calculation routines and external reporting. Formulae are designed by the client and can easily be updated via mail or with a CD-rom. This allows a massive amount of standard calculation functions to be used within Cybersure. Additionally, all fields within Cybersure can be used in the determination of a calculation, so providing ultimate flexibility. 

Member Record Keeping 
Cybersure allows Member record keeping for Individual or Unit Rated business. 

Claims are viewed in Cybersure and each claim is tightly connected to a specific insurance. If there is no valid insurance the system will not allow to register a claim. 

Accounting and Reporting
Accounting has been kept as simple as possible in Cybersure. Our experience has told us that all firms use one accounting system external to all other systems. Accordingly we have designed the Cybersure to export files and reports either manually or automatically through the internet to the clients own computersystems. This will allow our consultants to build a general interface customized to your needs

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